Your EOFY comprehensive guide to effective TELCO BILL management
Cost of living Pressures are consistent for all businesses in our current economic situation.
How can we be more efficient in managing Telco expenditure?
Is there real savings to made from checking your Telco bills regularly?
How much can we save on average? We have been able to recover $5000 to over $100,000 for some of our clients.
This presentation is about some basic principles to consider and implement in your business.
Avoid overpaying by identifying discrepancies and overcharges
“The pain isn’t just about understanding your Telco bill; it’s about knowing where you might be overpaying due to inaccuracies or redundant services.”
Here are some helpful tips:
Recognize the complexity:
We all recognise that telco bills can be quite complex.
- Why: The intricacies of Telco billing are not straightforward. Given the multifaceted nature of these bills, errors can easily creep in.
- Impact: Without acknowledging this complexity, businesses risk making uninformed decisions, resulting in overpayment.
- Actionable Advice: Familiarize yourself with the basic structure of a Telco bill. If something seems off, do not hesitate to question it.
- Always check and ask questions as things pop up from time to time
Initiate regular bill audits:
- Why: Consistent check-ups are essential for ensuring you are not overcharged or billed for unnecessary services.
- Impact: Regular scrutiny prevents accumulating errors, saving potentially thousands over time.
- Actionable Advice: Schedule consistent monthly or quarterly bill audits. Make it a recurring task.
- This is especially true: when making major changes to services; Signing new contracts; moving or cancelling old services or installing new services.
Identify disconnected services:
- Why: As we uncovered recently, a telco account was billed for 180 services, almost half of these services were for disconnected lines.
- Impact: By identifying and eliminating these charges, companies can achieve substantial savings.
- Actionable Advice: Thoroughly inspect each service charge on your bill. Ensure every charged service is one you are actively using.
- Be sure all services to be cancelled appear in the next bill cycle.
- Check the orders have been completed correctly.
- Recheck every monthly bill cycle.
Understanding charges:
- Why: Charges can often be cryptic. Without a clear understanding, businesses may miss discrepancies.
- Impact: Over time, uncaught discrepancies can compound, resulting in significant overcharges.
- Actionable Advice: Break down and categorize each charge. If you come across unfamiliar terms or figures, seek clarification.
- Always ask your telco provider or someone like us if you unsure
Seek external expertise:
- Why: Sometimes, an external perspective can spot errors that might be missed in-house.
- Impact: An expert’s eye can maximize refunds and ensure accurate future bills.
- Actionable Advice: If your internal reviews yield consistent discrepancies, consider partnering with a bill audit expert.
- As Telco bill expense managers we are here to help. We help you decipher the jargon into plain language to ensure you know what you are paying for and feel confident in paying the monthly charges billed.
By following this structured approach, businesses can turn the dreaded Telco bill review from a source of confusion and potential loss into an opportunity for savings and clarity.
Remember, the goal is not just about cutting costs but ensuring every dollar spent is justified.
PS: If you are ready to take charge of your Telco bills, ensuring accuracy, and maximizing potential refunds, then reach out to Jensen IP Analysis your Professional Telco Expense manager.
We can provide a comprehensive bill audit to ensure your payments are both accurate and just.
